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JOHN HANCOCK TAX-FREE BOND FUND, MAY 1, 1995
SUPPLEMENT TO CLASS A AND CLASS B PROSPECTUS
The "INVESTMENT OBJECTIVE AND POLICIES" section is amended as follows:
The Fund may invest up to 35% of its assets in municipal bonds rated,
at time of purchase, Ba, B by Moody's Investors Services, Inc., BB, B by
Standard & Poor's Rating Group or Fitch or, if not rated, determined by
the John Hancock Advisers, Inc. (the "Adviser") to be of comparable credit
quality. These bonds are considered speculative and are generally referred
to as junk bonds. While generally providing greater income than investments
in higher quality securities, these bonds involve greater risk of principal
and income loss, including the possibility of default. These bonds may have
greater price volatility, especially during periods of economic uncertainty or
change. Bonds rated B are currently meeting debt services requirements but
provide a limited margin of safety and are vulnerable to default in the event
of adverse business, financial or economic conditions. In addition, the
market for these bonds may be less liquid than the market for higher rated
securities. Therefore, the Adviser's judgment at times play a greater role
in the performance and valuation of the Fund's investments in these bonds.
"THE FUND'S EXPENSES" section is amended as follows:
The Trustees of the Fund have voted to recommend that the Class A
shareholders of the Fund approve an increase in the Rule 12b-1 fee for Class A
shares of the Fund from 0.15% of average daily net assets to 0.25% of average
daily net assets effective at the end of 1996.
The "ORGANIZATION AND MANAGEMENT OF THE FUND" section is amended as follows:
Thomas C. Goggins is Senior Vice President of the Adviser and
portfolio manager of the Fund. Mr. Goggins heads up John Hancock's team of
municipal managers and analysts. He joined the Adviser in 1995. Previously
to that date, Mr. Goggins was a municipal bond portfolio manager at Putnam
Investments and Transamerica Investment Services, Inc.
November 28, 1995
5200S 1/96a
